October 17: Bitcoin Whale Spends $19.77M to Acquire 187.5 BTC — Total Buys 566.9 BTC ($65.34M) with $5.37M Unrealized Loss

COINOTAG News on October 17, citing EmberCN monitoring, reports a significant Bitcoin accumulation by a single whale/institution. The entity initially purchased 379.2 BTC (~$45.57M) at $120,151 per coin last week and subsequently deployed an additional $19.77M in USDC to acquire 187.5 BTC at an average price of $105,410 following the market pullback.

Combined, the buyer has invested $65.34M to amass 566.9 BTC, yielding an average cost basis of $115,260 per BTC. Current mark-to-market figures indicate an unrealized loss of $5.37M, approximately 8.22% of the notional capital committed, underscoring the short-term drawdown on the position without implying future price trajectories.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.